When considering cryptocurrencies and Blockchain in Africa the challenge is twofold:
1_ Awareness is very much perfectible. Becoming familiar with the Bitcoin requires being already comfortable with Internet navigation, digital concepts such as dematerialisation, encrypted certification (at least the notion). But this issue is also presentt in other parts of the world.
2- Cryptocurrencies are mainly traded in G10 currrencies, meaning the average African trader needs first to convert NGN into USD before dealing.
For the first challenge, we have Cryptogene CGT token Cryptogene , who is aiming creation of awareness in Africa and creation of an ecosystem. I will detail it later.
Regarding accessibility to crypto trading, Bolenum, wants to create an exchange locally (first i Egypt, Nigeria, Ghana, and South Africa, targettinga fraction of the 1bln people).
I find the idea interesting, to offer a proximity webplace that would allow to trade a local token against fiat and get an access to Bitcoin ultimately and get rid of African fiats.
Bolenum is a token based on Ethereum, ERC20 token standard.
0_Nigeria on the verge of legalizing cryptocurrencies! 25 sept CBN News
1_Potential access to a token that could become widely used. Still, that is a very early stage bet.
2_There are some local relays in Nigeria, the main developper is based in Egypt
3_The founder has a good track record, 17years of practice of financial markets and projects. Work in progress concentrates seemingly all efforts.
4_Cheap market cap: 10mio tokens at 0.0000014BTC which makes a cap of 55kUSD. At the height of the risk actually.
1_Little institutional communication making awareness about the coin perfectible
2_The dev team located in India (Noodles) after difficult start seems on the way to deliver a more user firendly GUI
3_Illiquid token on Coinmarketcap. You can crater the price to zero with 3 millions token, worth 20kUSD.
4_This is a virtual currency more than a smart contract, so the application will be limited to transactional aspects. No guarantee it takes off. Yet, being a transactional standard would be remarkable.
Bolenum is the equivalent of one of the promising Internet startups with unlimited theoretical potential and only a few hard facts. But the newsflow ic clearly on the upside.
This is the first OUT-OF-THE-MONEY PUT on higher progress of Token trading in Africa. Worth a small try with the risk of losing it all.
Yet, as a means to invest on Africa, I invested a small portion on both CGT and BLN.
And I will have a look too in Cajutel that offers solar power internet to Guinea Bisso: Cajutel
More articles to come.